Shares of Texas Instruments Inc. (TXN) were rising after the chipmaker beat earnings estimates for the fourth quarter but issued slightly worse-than-expected guidance.

The stock was up 0.85% to $96.30 a share in post-market trading Wednesday, after having fallen 1.17% in regular hours.

Earnings-per-share came in at $1.27, beating Wall Street estimates of $1.23. Revenue was $3.72 billion, however, missing estimates of $3.75 billion. Net income was $1.24 billion. Analysts were looking for slight revenue growth from a year ago, but revenue fell 1%.

"Revenue decreased 1 percent from the same quarter a year ago as demand for our products continued to slow across most markets," said Rich Templeton, chairman, president and CEO.

Templeton also mentioned Texas Instruments' capital returns to shareholders over the course of 2018. "We have returned $7.7 billion to owners in 2018 through stock repurchases and dividends," he said. "Our strategy is to return all our free cash flow to owners. Over the last 12 months, our dividends represented 42 percent of free cash flow, underscoring their sustainability." Free cash flow was 38% of revenue, an increase from 31.2% in the fourth quarter of 2017.

Management guided for first quarter revenue of between $3.34 billion to $3.62 billion for a midpoint of $3.48 billion, below Wall Street's expected guidance of $3.59 billion. On an earnings-per-share basis, guidance was between $1.03 and $1.21, against Wall Street's estimate of $1.20.